Sevion Therapeutics Announces Chimerasome Research Agreement

November 24, 2014 08:15 AM Eastern Standard Time

LA JOLLA, Calif.--(BUSINESS WIRE)--Sevion Therapeutics (OTCQB:SVON), a biopharmaceutical company which
discovers, develops and acquires next-generation biologics for the
treatment of cancer and immunological diseases, today announced that it
has entered into a research agreement with Avidity NanoMedicines LLC
related to the use of Sevion’s chimerasome technology for delivery of
nucleic acids. Terms of the agreement were not disclosed.

The Chimerasome, which is based on a single protein that can be
assembled to form a spherical protein nanocage encapsulating drugs or
nucleic acid therapeutics, can be decorated with antibodies or peptides
externally, enabling highly specific cellular targeting of the payload.

“The Chimerasome biologics approach allows for specific optimization of
regions of the building block responsible for the key functions required
for a successful delivery system, including serum stability, triggered
opening and payload release, tunable PK and biodistribution, as well as
safety,” said Ronald Martell, CEO of Sevion Therapeutics. “This
collaboration is a key example of our effort to leverage our pipeline
and platforms through partnership, while we look to advance our internal
antibody pipeline and explore in-licensing opportunities.”

About Sevion Therapeutics

Sevion Therapeutics is a biopharmaceutical company building and
developing a portfolio of innovative therapeutics, from both internal
discovery and acquisition, for the treatment of cancer and immunological
diseases. The Company’s product candidates are derived from multiple key
proprietary technology platforms: cell-based arrayed antibody discovery,
ultralong antibody scaffolds and Chimerasome nanocages. Sevion has
leveraged these technologies to build a pipeline of innovative product
candidates. For more information, please visit SevionTherapeutics.com.

About Avidity NanoMedicines

Avidity NanoMedicines is pioneering a new class of therapeutics,
antibody-siRNA complexes (ARCs™), which employ antibody-targeted
nanoparticles containing siRNA payloads. The technology draws on the
targeting associated with antibody-drug conjugates and the selectivity
of nucleic acid-based medicines. Through partnerships with academic and
industry experts, Avidity is applying its technology to the discovery
and development of novel, targeted drugs. Avidity NanoMedicines was
founded in 2013, has raised $15 million in venture financing, and
entered into a research collaboration with a major pharmaceutical
company in December 2013. Avidity NanoMedicines is a privately held
company located in La Jolla, California. For more information, please
visit the Company’s website at www.aviditynano.com.

Forward-Looking Statements

Certain statements included in this press release are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Actual results could differ materially from such
statements expressed or implied herein as a result of a variety of
factors, including, but not limited to: the Company’s ability to
integrate the Fabrus science and operations, including the rebranding of
the Company as Sevion Therapeutics; the Company’s ability to continue as
a going concern; the ability of the Company to consummate additional
financings; the development of the Company’s gene and antibody
technology; the approval of the Company’s patent applications; the
current uncertainty in the patent landscape surrounding small inhibitory
RNA and the Company’s ability to successfully defend its intellectual
property or obtain the necessary licenses at a cost acceptable to the
Company, if at all; the successful implementation of the Company’s
research and development programs and collaborations; the success of the
Company's license agreements; the acceptance by the market of the
Company’s products; the timing and success of the Company’s preliminary
studies, preclinical research and clinical trials; competition and the
timing of projects and trends in future operating performance; and the
quotation of the Company’s common stock on an over-the-counter
securities market, as well as other factors expressed from time to time
in the Company’s periodic filings with the Securities and Exchange
Commission (the "SEC"). As a result, this press release should be read
in conjunction with the Company’s periodic filings with the SEC. The
forward-looking statements contained herein are made only as of the date
of this press release, and the Company undertakes no obligation to
publicly update such forward-looking statements to reflect subsequent
events or circumstances.